Autodesk Inc. (NASDAQ:ADSK)

Current Assets

The current assets have demonstrated a consistent upward trend over the six-year period. Starting at $1,620 million in January 2019, the value increased significantly to $2,659 million in January 2020. Thereafter, the growth continued but at a slower pace, reaching $2,699 million in January 2021 and $2,764 million in January 2022. The increase became more pronounced again in the subsequent years, with current assets rising to $3,341 million in January 2023 and further to $3,579 million by January 2024. This indicates a steady improvement in the company's short-term liquidity position over the analyzed period.

Adjusted Current Assets

Adjusted current assets closely followed the same pattern as current assets, reflecting minimal differences between the two metrics. Beginning at $1,622 million in January 2019, adjusted current assets rose sharply to $2,664 million in January 2020. Similar to current assets, subsequent annual increases were modest until 2022, with values of $2,703 million in January 2021 and $2,768 million in January 2022. Afterward, there was a noticeable increase to $3,346 million in January 2023 and $3,583 million in January 2024. The close alignment between adjusted and unadjusted current assets suggests that adjustments made had only a slight impact on the overall short-term asset valuation.

Total assets

The total assets demonstrate a consistent upward trend over the six-year period. Beginning at US$4,729 million in 2019, the assets increased steadily each year, reaching US$9,912 million by 2024. The growth rate appears to be robust, with the largest increments observed between 2019 to 2020 and 2020 to 2021, followed by slightly slower yet still positive growth in subsequent years.

Adjusted total assets

Adjusted total assets show a similar increasing pattern, starting at US$5,023 million in 2019 and rising to US$8,823 million by 2024. Unlike the total assets, the adjusted figures experienced a decline from 2019 to 2020, dropping from US$5,023 million to US$6,128 million, but then continued to increase steadily afterward. The pace of increase appears somewhat steadier in the later years but the overall growth is positive throughout the period.

Comparative insights

Total assets consistently exceed adjusted total assets, except for the initial year where adjusted assets were slightly higher. The gap between these two metrics narrows over the timeline, indicating possible revaluation or changes in asset adjustments affecting the adjusted totals differently than the total assets. This consistent growth in both total and adjusted assets points towards expansion or strengthening of asset base during the observed period.

Current Liabilities

The current liabilities of the company exhibit a consistent upward trend over the analyzed periods. Starting from 2,301 million USD in January 2019, the figure rose sharply to 3,219 million USD by January 2020. This growth continued at a more moderate pace in 2021 and 2022, reaching 3,255 million USD and 4,009 million USD respectively. The value slightly decreased in 2023 to 4,000 million USD, followed by another increase to 4,351 million USD as of January 2024. This indicates an overall expansion of short-term obligations, with a notable acceleration in 2020 and 2022.

Adjusted Current Liabilities

The adjusted current liabilities present a more fluctuating pattern compared to total current liabilities. Beginning at 536 million USD in January 2019, the amount nearly doubled in 2020, reaching 1,043 million USD. Subsequently, it declined to 754 million USD in 2021, then increased again to 1,146 million USD in 2022, marking the highest point in the series. After a significant reduction to 797 million USD in 2023, the figure modestly rose to 851 million USD by January 2024. These variations could reflect adjustments in the composition or classification of liabilities, indicating management's active refinement of short-term financial obligations over this period.

Total liabilities

Total liabilities showed a general upward trend from January 31, 2019, through January 31, 2023, increasing from 4,940 million USD to a peak of 8,293 million USD. This represents a significant growth over the five-year period. However, in the most recent year ending January 31, 2024, there was a slight decline to 8,057 million USD, suggesting a modest reduction in overall liabilities after several years of increase.

Adjusted total liabilities

Adjusted total liabilities exhibit a different pattern with fluctuations rather than a consistent increase. Beginning at 3,124 million USD in January 31, 2019, these liabilities experienced a mild increase to 3,229 million USD by January 31, 2020, followed by a decrease to 2,943 million USD in 2021. Subsequently, adjusted liabilities rose notably to 3,939 million USD in January 31, 2022, before declining again to 3,681 million USD and then slightly rising to 3,768 million USD in the last two years. Overall, adjusted liabilities demonstrate varying levels, with less pronounced growth relative to total liabilities.

Comparative insights

The contrast between the trends in total liabilities and adjusted total liabilities points to potential changes in the composition or accounting treatment of liabilities over the years. While total liabilities expanded significantly through 2023 before a minor decrease, adjusted liabilities showed more variability and less consistent growth. This might indicate management’s efforts to refine or control specific liability components, possibly through operational adjustments or financial restructuring.

Stockholders’ Equity (Deficit)

The stockholders' equity showed a significant improvement over the period from January 31, 2019 to January 31, 2024. Initially, there was a negative equity of -211 million US dollars in 2019, indicating a deficit.

Despite a reduction in the deficit by 2020 to -139 million US dollars, the equity turned positive in 2021, reaching 966 million US dollars. This positive trend continued, although with a slight dip in 2022 to 849 million US dollars.

Thereafter, there was a consistent increase in stockholders' equity, rising to 1,145 million US dollars in 2023 and further to 1,855 million US dollars by 2024. This trend suggests significant financial improvement and a strengthening balance sheet over the six-year period.

Adjusted Stockholders’ Equity (Deficit)

The adjusted stockholders’ equity presented a continuous upward trajectory from January 31, 2019 through January 31, 2024. Starting at 1,899 million US dollars in 2019, the figure increased steadily each year.

Growth was observed annually, reaching 2,899 million US dollars in 2020 and 3,578 million US dollars in 2021. The upward trend persisted, with figures rising to 3,932 million US dollars in 2022, 4,748 million US dollars in 2023, and finally 5,053 million US dollars in 2024.

This consistent increase indicates an expanding net asset base when considering adjustments, reflecting enhanced financial stability and potentially improved valuation or accounting adjustments favoring the company’s equity position during this period.

The financial data indicates several notable trends in the company’s capital structure over the six-year period from January 31, 2019, to January 31, 2024.

Total Reported Debt

This metric experienced fluctuations, starting at US$2088 million in 2019, remaining relatively stable through 2020, then declining to US$1637 million in 2021. It rose sharply in 2022 to US$2628 million before gradually decreasing to US$2284 million by 2024. The overall pattern shows volatility with a peak in 2022 followed by a moderate reduction.

Stockholders’ Equity (Deficit)

The company moved from a deficit position of US$211 million in 2019 and US$139 million in 2020 to a positive equity balance starting in 2021, with US$966 million. Equity remained positive and grew significantly over the subsequent years, reaching US$1855 million by 2024. This indicates an improvement in net asset value and potentially stronger financial health.

Total Reported Capital

Total reported capital, calculated as the sum of reported debt and stockholders’ equity, rose steadily from US$1877 million in 2019 to US$4139 million in 2024. The increase was driven primarily by the growth in equity, with more moderate fluctuations in debt balances.

Adjusted Total Debt

Adjusted total debt follows a trend similar to total reported debt but at higher absolute values, ranging from US$2445 million in 2019 to US$2626 million in 2024. It peaked in 2022 at US$3060 million, indicating that some adjustments, possibly for off-balance-sheet items or other liabilities, increased the reported debt levels. Despite this, adjusted debt decreased after the peak, showing a degree of management in debt exposure.

Adjusted Stockholders’ Equity (Deficit)

Adjusted equity showed a marked and consistent increase over the period, rising from US$1899 million in 2019 to US$5053 million in 2024. The adjustment appears to convert the reported deficit in earlier years into a positive equity figure, possibly reflecting revaluation or recognition of additional equity components, resulting in a stronger capital base.

Adjusted Total Capital

Adjusted total capital exhibited continuous growth throughout the period, increasing from US$4344 million in 2019 to US$7679 million in 2024. This trend highlights an overall expansion of the company’s financed assets, supported by growth in both adjusted debt and adjusted equity components.

In summary, the company has improved its equity position significantly, transitioning from a deficit to a substantial positive balance, which contributes to a stronger net capital base. Debt levels have fluctuated but show management efforts to control and reduce adjusted debt after its peak in 2022. The overall increase in total capital reflects growth and possibly expanded business operations or investments, supported by both equity strengthening and controlled debt financing.

Net Revenue

The net revenue demonstrates a consistent upward trend over the six-year period. Starting at $2,570 million in the year ending January 31, 2019, it increased steadily year-over-year, reaching $5,497 million by January 31, 2024. This represents a more than twofold increase within this timeframe, indicating sustained growth in the company's core income generation.

Adjusted Net Revenue

The adjusted net revenue shows more variability compared to the net revenue. Beginning at $2,706 million in 2019, it experienced a significant increase to $4,190 million in 2020. However, there was a slight decline in 2021 to $4,144 million, followed by subsequent increases to $5,795 million in 2023. The adjusted figure then declined to $5,181 million in 2024. This fluctuation suggests some elements accounted for in the adjustments—potentially non-recurring items or other adjustments—had varying impacts across the years.

Overall Trends and Insights

Both net revenue and adjusted net revenue exhibit growth over the analyzed period, indicating expansion in the company's revenue base. Yet, adjusted net revenue is subject to greater variability, which could imply fluctuating adjustments related to accounting policies, extraordinary items, or operational changes. The general upward momentum in both metrics is a positive sign of business growth, although the recent decrease in adjusted net revenue in the latest year may warrant further examination to understand underlying causes.

The financial data reveals several notable trends in the company's net income performance over the six-year period ending January 31, 2024. Both the reported net income (loss) and adjusted net income (loss) figures demonstrate periods of significant volatility with overall positive outcomes in more recent years.

Net Income (Loss)

The net income recorded a substantial turnaround from a loss of $81 million in 2019 to a profit of $215 million in 2020. This positive momentum continued strongly into 2021, with net income reaching a peak of $1,208 million. However, the following year saw a marked decrease to $497 million, indicating some challenges or increased expenses impacting profitability. The net income then improved again in 2023 to $823 million and further to $906 million in 2024, suggesting a recovery and strengthening of earnings after the dip in 2022.

Adjusted Net Income (Loss)

The adjusted net income shows a different pattern but aligns in general direction with the reported net income. Starting from a loss of $21 million in 2019, it sharply increased to $1,116 million in 2020, a significantly higher figure relative to the reported net income, indicating adjustments that improved profitability measures. The adjusted net income declined to $817 million in 2021 but rebounded to $913 million in 2022, showing resilience. A notable jump to $1,277 million in 2023 represents the highest adjusted profitability in the period, followed by a decline to $457 million in 2024, which is a notable decrease and contrasts with the trend in reported net income.

Overall, the net income data suggests the company has experienced improved earnings with cyclical fluctuations, including a noteworthy dip in 2022. The adjusted net income figures indicate that exclusions or adjustments made to arrive at this measure significantly affect the reported profitability, especially in 2023 and 2024. These variations may reflect changes in non-recurring items, accounting adjustments, or differing operational impacts over the years. The divergence observed in 2024 between adjusted and reported net income could warrant further investigation to understand the underlying causes of the reduced adjusted figure despite growth in the reported net income.